Tag: Bank

Ripple’s Africa Strategy Expands With Absa Bank Custody Deal

Key Notes Ripple’s 2025 Africa strategy includes payments via Chipper Cash, its RLUSD stablecoin with VALR, and now custody with Absa Bank. The new partnership will provide institutional-grade custody for tokenized assets to Absa Bank’s customers in South Africa. These strategic developments occur as XRP faces significant order book resistance at $2.60, with major support indicated at $2.40. Ripple XRP $2.50 24h volatility: 1.9% Market cap: $149.91 B Vol. 24h: $5.86 B , a provider of digital asset infrastructure, announced on Oct. 15 its partnership with Absa Bank to provide…

Chinese Investment Bank Eyes $600M Raise For BNB Treasury

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As BNB rallies to new highs, a major Chinese investment bank is reportedly in talks to raise $600 million for a new US-based Digital Asset Treasury (DAT) company, focused on investing in the altcoin. Related Reading Chinese Investment Plans $600 Million Fundraiser On Monday, Bloomberg reported that Beijing-based Chinese investment bank China Renaissance Holdings Ltd. is planning a fundraiser for a new BNB-based public vehicle backed by YZi Labs Management Ltd. According to the news media outlet, China Renaissance aims to raise $600 million to create a publicly listed DAT…

Goldman Sachs, Deutsche Bank Lead Nine-Bank Blockchain Money Initiative

Key Notes Major financial institutions unite to bring blockchain infrastructure into mainstream global payment systems. The initiative aims to enhance settlement speed, reduce costs, and improve liquidity through stablecoin technology. Growing momentum follows Trump’s Genius Act and Europe’s similar euro stablecoin project launching in 2026. Goldman Sachs Group Inc., Deutsche Bank AG, Bank of America Corp., and Banco Santander have joined forces in a nine-bank coalition to explore the creation of blockchain-based digital money. The initiative marks another major step by traditional financial institutions to integrate cryptocurrency infrastructure into global…

AMINA Bank Launches Polygon Staking for Corporates

Key Notes AMINA Bank is the first to offer institutional staking to clients, in collaboration with Polygon. By staking POL through AMINA, investors can get up to 15% staking reward. Polygon deployed its major “Rio” upgrade to the Amoy testnet a month ago. [NC] staking services are now available on AMINA Bank AG, a Swiss FINMA-regulated crypto bank. This makes it the first financial institution globally to enable such services on its platform. It also offers institutional investors the opportunity to engage with the naive token of the Polygon network…

Fasset Becomes First Stablecoin Islamic Bank in Malaysia

Key Notes Malaysia grants Fasset approval to offer full-service digital banking within a regulated Islamic fintech sandbox. Fasset is now the world’s first stablecoin-powered Islamic digital bank. The platform plans to expand its products and services in the coming months. . Global crypto investment platform, Fasset, has received approval from Malaysia to launch full-service digital banking services within a regulated Islamic fintech sandbox. The approval makes Fasset the world’s first stablecoin-powered Islamic digital bank. Fasset currently serves over 500,000 users across 125 countries, aiming to close the long-standing gap in…

Fasset Approved to Launch Stablecoin-Powered Islamic Digital Bank

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Fasset received a provisional license from Malaysia’s Labuan Financial Services Authority (FSA) to launch what the company said is the first stablecoin-powered “Islamic digital bank.” The license allows Fasset, an all-in-one financial super app, to operate within a regulated sandbox focused on Shariah-compliant financial products, the company said in a Tuesday news release. “We can now combine the credibility of a global banking institution with the innovation of a fintech insurgent that’s fully halal,” Fasset CEO Mohammad Raafi Hossain said. Islamic finance refers to the financial system based on Islamic…

Standard Chartered Predicts $1T Bank Outflows to Stablecoins

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Multinational bank Standard Chartered predicted that more than $1 trillion could exit emerging market banks and flow into stablecoins by 2028 as demand for US dollar-pegged crypto assets accelerates.  In a Monday report, Standard Chartered’s Global Research department said that it expects global stablecoin adoption to accelerate as payment networks and other core banking activities shift to the non-bank sector.  As stablecoins gain traction in emerging markets (EM), Standard Chartered noted that users might utilize stablecoins to access what’s essentially a US dollar-based account. “Stablecoin ownership has been more prevalent…

XRP Price Moves into $5 Breakout Range as Community Speculates on Ripple National Bank

Key Notes XRP price rises above $3 as traders anticipate upside from Ripple’s OCC banking license application. Derivatives data show $8.9 billion open interest, signaling renewed institutional speculation despite weekend liquidity. Chart indicators reveal XRP entering a critical $3.10-$3.15 resistance zone, with potential for a $5 breakout in Q4. . The XRP price moved above $3 on Sunday, October 5, and held steady around its five-day average. Despite a modest 2% rise, XRP appeared to underperform Bitcoin and Ethereum, which rallied over 3% as BTC set fresh all-time highs. This…

Vietnam Central Bank Expects Credit Growth. Crypto to Benefit?

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The State Bank of Vietnam, the country’s central bank, anticipates credit growth of about 20% in 2025, a move that could see liquidity flow into global crypto markets amid rising adoption in the region. Pham Thanh Ha, deputy governor of the central bank, said Friday that interest rates need to be slashed further to encourage economic growth and mitigate the uncertainty from US-imposed tariffs, according to Reuters. Vietnam’s government legalized cryptocurrencies in June as part of broader technology regulation, which categorized cryptocurrencies as either virtual assets representing real-world tokenized products…